Emdeon has replaced CEO George Lazenby with former Oracle executive Neil de Crescenzo.
Lazenby will become a senior adviser to private equity firm Blackstone Capital Partners, the majority investor in the Nashville-based vendor of technology for revenue cycle and payment management and clinical information exchange.
Crescenzo, 52, joined Oracle in 2006 and since 2008 had been senior VP and general manager of the company's health sciences division.
“We are confident that Neil will continue to build on Emdeon's market leadership, serving our customers with innovative connectivity and workflow technology solutions and value-added services,” Blackstone senior managing director and Emdeon director Neil Simpkins said in a news release.
Lazenby, Emdeon's CEO since 2007, will advise Blackstone on healthcare technology and services investments and will advise Emdeon's board and senior management.
Emdeon reported $15.7 million in operating income on $311 million in revenue for the three months ended June 30.
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